I need help ASAP

Holiday Stores Inc. purchased 400 Chocolate Bunnies for Easter on March 1st for a total cost of $1,600. The store sold 300 Bunnies prior to Easter for $5 each. After Easter the remaining bunnies could only be sold for $1.50 each due to a severe drop in demand. But this could only be accomplished if the company began an on line marketing campaign that would cost $200 a) Prepare a journal entry to reflect that the current Sales Price had dropped to $1.50. b) What is the balance in the Inventory ledger account after the journal entry? c) Why is this journal entry required even though it doesn't meet the Cost Principle